Morning Scan: B of A's Cost-Cutting May Go Deeper; Wealth Manag...

Breaking News This Morning ...

Earnings: Goldman Sachs' fourth-quarter earnings fell on a $5 billion regulatory penalty. Wall Street Journal

Bank of America took a hacksaw to its expense base during the fourth quarter, slashing expenses by 2% from a year earlier, in part by firing employees, according to American Banker's report on its earnings. B of A may want to find a sharper blade. Much of the cost-cutting at B of A has come from its mortgage-servicing...